CBay to buy two US cos for $20 mn

Bangalore, March 23 | Updated: Mar 24 2006, 05:30am hrs
CBay Systems, which provides transcription technology and services to the US healthcare market, is all set to acquire two US healthcare services companies for $20 million.

As per the deal, by early next week the healthcare major will acquire the first US company which is into patient financial services at a cost of $11 million, followed in April by another company for $9 million.

The debt funds of $20 million will come from two Indian financial institutions, independent of the existing investors of which, Godrej Industries holds around 12% in CBay Systems.